I listened to the Kingworld News interview over the weekend and below are my notes from them for what they're worth......

James Turk – Kingworld News 4/1/11

· There is a record backwardation for silver. Compare this then to 2009 when silver was last in backwardation. Then in over 2 months it moved 40% to remove backwardation. What this backwardation suggests to me is a very strong demand for the physical silver and this is very very bullish. His target for this year is $45 to $50.

· What we need to look for is if gold goes into backwardation and if that happens, this means it is all over for the dollar. He is watching the gold market very very carefully. Thinks though if Fed can interfere in other markets, why can’t they interfere here to prevent backwardation – but that doesn’t seem to be happening.

· Important message here….maybe silver is in really tight supply OR people are not willing to sell their silver even at these high prices.

· EURO is setting up here for a tremendous rally possibly up to 150.

· AS to gold just about 1440 level….he things this will fall pretty soon. This will start the rally to 1800 which is his target. Important thing is that trends are there so whether it happens in June , or August, or September, doesn’t make much of a difference.

· This is a major bull market in PM and these remain undervalued assets due to debasement of dollar. Therefore, just keep accumulating your PM. You are saving sound money which is a good idea.

· One of these days the mining stocks will rocket along with the gold. We will see spectacular short covering in the mining shares yet to come.

Ben Davies – Kingworld News 4/2/11

· Feels that our system is heavily skewed to “price controls.” E.g., yen controls, oil controls (OPEC),

· Way for government to fix prices from how they would otherwise would. Initial goal is to prevent prices from rising. This will essentially destroy their economic system. They ultimately cause shortages of something.

· Central banks with their being in charge of interest means they are the ultimate price controllers. Interest rates is so low right now that everything feels like they have free money. Over investment and over consumption is what it causes.

· There are shortages in PMS. There are 2 banks that are now under investigation for trying to control the market. The market has held back for so long by this type of price control.

· The events in the Middle East are definitely seminal events. Brent Crude is the sweet crude which is what the Libya oil is. But WTI is the medium sour which is what Saudi Arabia is. Thinks WTI price will probably catch up with the Brent Crude. Thinks the OPEC oil cartel (like the Central Bank cartel) is slowly falling apart.

Robb Arnet – Kingworld News 4/2/11

· Sub advises PIMCO fund and Schwab funds

· He is alarmed at all the policy plunders looking at all the wrong data. E.g. focus on core inflation which is not what others are really looking at since it excludes food and energy! Also focus on GDP is wrong. This measures spending not prosperity. E.g., a government can increase GDP by just increasing its spending and skewing the numbers.

· Private spending GDP is back to 1997 measures – it is not growing despite what the government is trying to sell us on.

· If you focus on the non-core then you are focusing what matters to the poor….food and fuel.

· All this government stuff is BS.

· Fed is sowing seeds of discontent in areas of the world where price inflation is increasing and growing more difficult for people to buy food

· Bernake has been jubilant that his policy has resulted in increased stock prices

· If the US if forced into cutting its “credit cards” by the capital markets then we have a Greece situation here in the US. We are actually in a real life worse debt situation than the Greece but what is saving us at this stage is the fact we are the reserve currency.

· Bernake’s goal is to prop up the stock market and this should not be part of the Fed’s role. This is border line criminal to take on this as a goal.

· Current situation fraught with significant amount of risk. This is not a market where I would invest aggressively as the current environment is fraught with risk. I would not want to ride this market to the peak. I would want to take a low risk profile with broad diversification in low volatility stocks, and some amount of inflation hedges.